Adverse macroeconomic conditions are, indeed, very strong reasons many Nigerians, particularly the working population, are priced out of the country’s housing market and are, therefore, homeless.

Cost-push inflation, high interest rates, and volatile exchange rates have never been good friends to housing development. They not only delay, but also push up the cost of construction significantly.

High construction costs mean the price of housing has to go up to enable developers to recoup their investment, make profit, and borrow more to build more housing to meet growing demand.

Besides these are other reasons that border on income level, cost of finance, and poor mortgage system, which explain why the country has a ballooning housing deficit and an active rental market, which is second only to Kenya, known for its urban development and growing rental market, especially in cities like Nairobi and Kisumu.

Income level in the country is quite low,

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